€23,910,646 in tax credits through the Get Qualified Scheme

9,364 beneficiaries were granted the
total sum of €23,910,646 in tax credits between 2013 and 2019 through the Malta
Enterprise’s Get Qualified Scheme initiative, which is administered by the
Ministry for Education and Employment through the National Skills Council.

The Get Qualified Scheme is an
initiative that supports the personal development of individuals for the
achievement of qualifications and certifications required by industry.

During the period indicated, there was a
significant increase of beneficiaries who benefitted from this scheme when
compared to the period 2006-2012, when 3,710 beneficiaries were granted the
total amount of €11,535,124 in tax credits.

The incentive is applicable to
individuals following a course of studies leading to a certification, diploma,
degree, or post-graduate degree courses. Upon successful completion, the
student will benefit from a tax credit enabling them to recover part of the
costs incurred.

“This is a scheme aimed for
students during one of the most important phases of their life, when they are
in the midst of their studies, as it not only helps them to better their
education, but also during a phase when they are choosing their future career
and are doing their utmost to get their much-needed qualifications. We will
continue to better schemes and other incentives in these two important fields
so that all sectors of our society benefit from them for the development and
advancement of each and every one of us”, stated Minister for Education
and Employment Owen Bonnici.

“In view of Malta’s economic
success, it is of utmost importance to keep on investing in our human resources
whilst strengthening the skills of our workforce. The success of schemes such
as this show that they’re serving as essential tools which enables students to
pursue further their studies through a financial aid that lessens unnecessary
burdens. Thus, as a Government we shall keep on strengthening existing schemes
and where needed introduce new ones to create new educational opportunities as
well as quality jobs”, said Minister for the Economy, Investment and Small
Business Silvio Schembri.

By means of this scheme, students
pursuing courses approved by the Ministry for Education and Employment are
granted a tax credit on payments made to a university, institution or entity
for training and also education services that lead to the approved
qualification and also for payments for examinations leading to an approved
qualification.